President Goodluck Jonathan has granted approval increasing the revenue of the Nigerian Shippers’ Council (NSC) from one out of the seven per cent port development levy to three.
With the new approval granted by the President via a memo addressed to the Minister of Finance and Coordinating Minister of the Economy, Mrs. Ngozi Okonjo-Iweala and copied the Minister of Transport, Senator Idris Umar penultimate week, about 43 per cent of the port development levy will henceforth accrue to the Nigerian Shippers’ Council.This is coming on the heels of the recent conversion of the Nigerian Shippers’ Council from the body protecting the interest of Nigerian shippers (importers and exporters) to the economic regulator of the ports by the Federal Government.